The energetic city of Fort St. John, BC has been very busy with numerous economic developments and new energy projects in recent years.
As the oil, natural gas, and hydro electric industries having been booming as of late the demand for real estate in the local area has increased as well.
According to the BC Northern Real Estate Board the amount of houses sold in Northern BC has risen by 327 from 2013 to 2014 alone.
With the recent announcement of the Site C dam the boost in the local real estate market is speculated to continue to rise in 2015. It is however currently too early to tell at the beginning of 2015 if the prices will be affected by the project.
Home Assessment Values Up
The average house price in Fort St. John is $376,000 (as of 2014).
According to B.C. Assessment Authority the value of homes in the Fort St. John area have risen 8.4% in 2015 from 2014.
This is good news for anyone considering buying or investing in real estate in the area. The trend in recent years has been for the value of property to go up with the continuing economic developments in the area including the new Site C dam project.
This also however means increases in property taxes for home owners. With the value of houses going up so does the property taxes for the property.
Real Estate Development
There are plans in the works to build new high-rises and a hotel in the area.
With over ten years of experience in construction and development in North America and over 100 million dollars invested in property development, the company working on real estate in Fort St. John has a well established reputation.
Look for high quality construction to start in the area shortly to help keep up with the increasing population.
Stay tuned for updates and new real estate listings in Fort St. John.